Aug tax collections decline 7.7%; personal income tax mop-up drops 37%

Direct taxes fall 42% to Rs 34,972 crore, from Rs 60,363 crore in August last year

Tax collections fell 7.7% per cent at Rs 1.5 trillion in August this year from Rs 1.6 trillion in the same month last year as all major taxes tumbled.

Corporation tax yielded Rs 11,159 crore, which is almost half of Rs 22,201 crore in August last year, according to data provided by the Controller General of Accounts (CGA).

Personal income tax declined 37.6 per cent at Rs 23,813 crore in August this year from Rs 38,162 crore in the same month last year.

This means that direct taxes fell 42 per cent to Rs 34,972 crore in August this year